🔄 Trading Guide
Below is a detailed tutorial on how to begin trading on QuickPerps
Last updated
Below is a detailed tutorial on how to begin trading on QuickPerps
Last updated
Go to https://hydra.quickswap.exchange/ and connect your wallet. Make sure the network is switched to Polygon zkEVM
Next, select whether you want to go “Long” or “Short” and enter the amount of the asset you want to use as collateral (you can trade crypto, commodities, or forex). Then, move the leverage slider to select the amount of leverage you want to use.
In this example, 50 USDC.e is used as collateral and 60x leverage has been selected for a total position size of $3,000.
Before you proceed with opening the trade, you can select “Pro Trading” mode to set a variety of different order types and features, such as a Limit / Stop, Stop Loss, Take Profit, and more.
Once you’ve entered in all the information, open your position by paying the transaction fee.
Your open position(s) will be displayed on the bottom left of the screen.
Please note: When you open a position, a 0.1% trading fee of the position size is deducted. Similarly, there will be a closing fee deducted of 0.1% of the position size. A Borrow Fee is deducted at the start of every hour. This is the fee paid to the counter-party of your trade. The fee per hour will vary based on utilization, it is calculated as (assets borrowed) / (total assets in pool) * 0.01%.
The box below the position box summarizes the trade with the: Entry Price, Exit Price (which is the price you would get if you were to close the trade immediately after opening it), Borrow Fee, and the available liquidity in the pool.
Once clicking on 'Long ETH', another window will pop up asking you to confirm the opening of your long position on ETH, showing all the details of your order:
When hovering over the amount of the Collateral for your 'Long ETH' order, you can see your position's collateral after deducting the fees:
Proceed to click on 'Long ETH' after having carefully confirmed your order and then approve the transaction in your wallet. After having approved the transaction in your wallet, you will immediately see the details of your position right below the trading chart under the tab 'Positions'.
See the below section for a guide on slippage settings.
Slippage is the difference between the expected price of the trade and execution price.
Because of the deep liquidity offered by the QuickPerps $QLP pool, there are no price impacts for trades, yet there can be slippage due to price movements between the moment when your trade transaction is submitted and when it is confirmed on the blockchain.
The maximum slippage you accept for a trade can be customized by clicking on your address in the header and on the Settings button accessible from the dropdown menu.
All your trades are added under the trading chart once confirmed - you can find your opened positions when clicking on 'Positions':
Visualizing your entries, as well as the liquidation prices on the chart can be easily enabled by ticking the 'Chart positions' box as highlighted below:
To manage your opened position click on the three dots highlighted in red below.
From the dropdown menu, select 'Edit Collateral' in order to deposit or withdraw collateral.
A pop-up will appear that will allow you to either deposit or withdraw collateral - you'll notice the effect of this action on your leverage and liquidation price.
Deposit Collateral:
Withdraw Collateral:
Leverage for a position is displayed as (position size) / (position collateral). If you'd like to display the leverage as (position size + PnL) / (position collateral), you can customize this by clicking on your address in the header and on the Settings button in the dropdown menu.
To close a position completely, click on the "Close" button highlighted in red below:
By selecting the “Max” button in the pop-up window, you'll receive a summary of your PnL and fees before confirming the transaction. To partially close the position, enter any amount below the maximum possible.
You can choose the currency in which you want your balance to be paid out when you close the position (Last section -> Receive)
You can set stop-loss and take-profit orders before entering a trade.
Here you can also select the currency in which you want your balance to be paid out when you close the position (Last section -> Receive).
Please note that the amount of the desired asset to receive depends on the exchange rate at the time of execution.
Your newly created trigger order now appears in your position's row, as well as under the "Orders" tab where you can cancel or edit it by changing the trigger price if needed.
It will also be displayed on the chart if you tick the box Chart positions.
If you close a position manually, the associated trigger orders will remain open - you would need to cancel them manually if you do not want the order to be active when opening future positions.
Please note that orders are not guaranteed to execute - this can occur in a few situations including, but not exclusive to:
The mark price, which is an aggregate of exchange prices did not reach the specified price
The specified price was reached but not long enough for it to be executed
No keeper picked up the order for execution
Trigger orders are market orders and not guaranteed to execute at the trigger price
In case the market goes against your trade, there will be a price at which the loss amount is very close to the collateral amount.
The liquidation price is calculated as the price at which the (collateral - losses - borrow fee) is less than 1% of your position's size. If the token's price crosses this point, then the position will be automatically closed.
Due to the borrow fee, your liquidation price will change over time, especially if you use greater than 10x leverage and have the position open for more than a few days - therefore, it's important to monitor your liquidation price.
If there is any collateral remaining after deducting losses and fees, then the corresponding amount would be returned to your wallet.
Thanks to its innovative design, there is no price impact for trades on QuickPerps, even for larger order sizes. This means you can execute large trades exactly at the mark price.
The mark prices are displayed next to the market name and under the swap box
Long positions will be opened at the higher price and closed at the lower price while short positions will be opened at the lower price and closed at the higher price.
Another advantage of the QuickPerps platform is that there's only a small spread for entering and exiting trades. In the example below, there is no spread or entry and exit prices remain the same:
